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Tech Titans Transform Global Forex Dynamics
In recent years, the global currency market has undergone a significant shift, with tech giant Apple holding $135 billion in currency derivatives. Alphabet has $60 billion, while hedge funds only manage $78 billion in currency assets combined. This trend has Wall Street banks recalibrating their focus. Previously, lively traders dominated the market. Now, corporate bankers […]
Lula Stresses Importance of BRICS at African Union
In Ethiopia, at the 37th African Union Summit, Brazil’s President Luiz Inácio Lula da Silva spoke about the vital role of BRICS. He sees it as crucial for global cooperation. His speech aimed to boost the Global South’s influence in solving modern challenges. Lula emphasized the need for developing nations to start a new global […]
Eurozone Economic Activity Slows as Service Sector Weakens
The Eurozone’s economic landscape shifted in September as the composite Purchasing Managers’ Index (PMI) fell to 49.6. This decline signals a contraction in overall business activity across the region. The service sector, previously a stronghold of economic stability, showed signs of weakness with its PMI dropping to 51.4 from 52.9 in August. Germany, France, and […]